According to the Accounting Pronouncements Committee--CPC (2011) (Comite de Pronunciamentos Contabeis--CPC), in this paper a period shorter than 12 months is considered short-term, and a period over 12 months is considered long-term.

The Turkish road to democracy has had plenty of bumps, with military coups in 1960 and 1980, a Latin American-style military pronunciamento in 1971 and severe political polarization and civil violence in the 1970s.

The Dow Jones, let it be noted, soared over 900 points on the day of Paulson's bank stock purchase pronunciamento, yet two days later, the markets swooned again, giving up almost all of their short-lived gains.

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